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Mortgage Processor III

DRG Professional Services Oklahoma City, OK

  • Posted: over a month ago
  • $52,000 to $83,200 Yearly
  • Full-Time
  • Benefits: life insurance, medical, vision, 401k, dental
Job Description

SUMMARY:

Under the limited direction of the assigned manager, the Mortgage Processor 3 processes single-family 1-4-unit residential mortgage loan applications for approval. Position is remote until Covid restrictions are lifted. Must reside within traveling distance of bank branch for periodic training.

ESSENTIAL DUTIES AND RESPONSIBILITIES: (Other duties may be assigned)

  • Reviews property appraisal reports and makes recommendations to underwriting and process the more complex loan files utilizing their experience and knowledge.
  • Handles a high volume of data and must complete all duties with a high degree of accuracy and complete confidentiality.
  • Works in connection with the lender to discuss and review new loan files as they are assigned. Reviews and analyzes, and validates the verified documentation within the loan file to ensure the loan file meets the requirements for the applicable loan program: Conventional, FHA, VA, Rural Development(RD), Bond/HUD 184 loans, bond or jumbo.
  • Communicates with customers regarding loan files. Serves as a resource to the customer once the application is received in mortgage operations through loan closing.
  • Reviews and processes tax return calculations on the more complex loan files. Analyzes the credit, income, and asset documentation in the file. Uses required income calculator worksheet to document W2 wage earners, social security, Schedule C, E, F, and/or K1 income on 1040 tax return, as applicable.
  • Ensures integrity of source and data documented in loan file follows loan program requirements and that each file complies with real estate regulatory requirements making additional requirements, as necessary.
  • Reviews real estate residential property appraisals for conventional loan files as it pertains to the appraisal checklist. Makes any necessary comments regarding the appraisal in the checklist comment section for the underwriter.
  • Updates LOS (Loan Origination System) and validate all data entry is accurate. Submits file through the AUS (automated underwriter system), if applicable, to have accurate findings for loan file. Follows AUS requirements and/or manual guidelines about investor requirements found in AllRegs and/or Selling Guides for Fannie, Freddie, FHA, and/or VA websites of the loan program.
  • Provides lender with any Preliminary Condition Requirements as required for the Underwriter to make a credit decision on the loan file.
  • Issues NOI (notice of incompleteness) letter when Underwriting does not receive the necessary items to make a credit decision. Closes file for incompleteness if requested items are not received from borrower as directed on the NOI.
  • Submits completed loan application files to underwriting for approval.
  • Communicates with loan production associates regarding credit decisions and with any updates or guideline requirement questions. Updates the LOS (loan origination system) with condition requirements and any information that differs from the original submission.
  • Working knowledge of all real estate regulations including, but not limited to, RESPA, TRID, Truth in Lending Act, Fair Credit Reporting Act, Fair Lending, Reg B (ECOA), Reg C (HMDA), and Flood Act, Interagency Appraisal and Evaluation Guidelines required.
  • Runs the Soft Credit Pull report and addresses any additional debt not shown on the original credit report. If applicable, runs Early Check and final AUS to loan program and move the file back to the underwriter for final approval.
  • Remains cognizant of Fannie Mae, Freddie Mac's requirements through AllRegs and/or Selling Guides for both agencies and FHA, VA & RD guidelines in efforts to minimize any potential loss to Arvest and repurchase requests from investors.
  • Understands and complies with bank policy, laws, regulations, and the bank’s BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
  • Supports and upholds the Mission Statement.
  • Maintains a high level of cooperation and rapport with all associates to ensure accurate and efficient operations and service.
  • Formulates and communicates new ideas and suggestions that will improve profitability and efficiency for the company’s overall operation.
  • Fosters and always promotes the proper company image.

EDUCATION AND EXPERIENCE

  • High school diploma or general education degree (GED) required. Associates Degree Preferred.
  • Mortgage Processor III – Must possess 2 years of mortgage processing experience, including all loan types, secondary market, conventional, FHA, VA, RD, and Bond Programs. This would also include at least 1-year of experience in reviewing government loans—also, extensive customer contact experience and working knowledge of reviewing and analyzing personal and business tax returns.
  • Mortgage Processor II – Must possess 1 year of mortgage processing experience. Recent experience preferable (within the past year) to include at least secondary market conventional experience.

TECHNOLOGIES

  • Encompass (LOS)
  • Loan Beam (Tax Return Review)
  • Microsoft suite

QUALIFICATION REQUIREMENTS:

  • To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
  • The requirements listed are representative of the knowledge, skill, and/or ability required.

The Company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information, or any other characteristic protected by law.

Company Description
DRG Professional Services partners with industry leaders nationwide to attract exceptional professionals from around the country. Always ensuring our focus is on guiding professionals toward the best possible career decisions, developing relationships over the long term and guaranteeing DRG Professional Services remains top of mind for leading recruitment.

DRG Professional Services is the commercial recruitment division of the Delaware Resource Group - a leading Native American owned defense contractor based in Oklahoma City. This division was formed with the vision of bringing DRG's excellence and experience in workforce solutions to commercial markets globally. Professional Services specializes in Professional Recruitment, Executive Search and customized Workforce Contract/Subcontract solutions; focusing talents and extensive network primarily in the Medical, Financial Services, Information Technology, Aerospace & Defense industries.

The Company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.

DRG Professional Services

Why Work Here?
Growing organization with siginficant opportunity for cross training and career advancement!

DRG Professional Services partners with industry leaders nationwide to attract exceptional professionals from around the country. Always ensuring our focus is on guiding professionals toward the best possible career decisions, developing relationships over the long term and guaranteeing DRG Professional Services remains top of mind for leading recruitment. DRG Professional Services is the commercial recruitment division of the Delaware Resource Group - a leading Native American owned defense contractor based in Oklahoma City. This division was formed with the vision of bringing DRG's excellence and experience in workforce solutions to commercial markets globally. Professional Services specializes in Professional Recruitment, Executive Search and customized Workforce Contract/Subcontract solutions; focusing talents and extensive network primarily in the Medical, Financial Services, Information Technology, Aerospace & Defense industries. The Company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.

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Oklahoma City, OK
USA

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